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TSX Hits Record High as Iran Deal Lifts Markets — Daily Update, June 16, 2026

Oil tumbles on Strait of Hormuz reopening framework. All eyes on the Federal Reserve as Kevin Warsh chairs his first policy meeting. Here is everything moving Canadian wallets today. Tuesday, June 16, 2026  |  MoneySavings.ca 🇨🇦 TSX — Another Record on the Books The S&P/TSX Composite closed at a fresh all-time high on Monday, June 15, topping 35,398 intraday before finishing near the upper end of its range. The index is now up more than 11% year-to-date , the second-best performance among major global indexes tracked through mid-June — behind only Japan's Nikkei (+31%). Monday's rally was broad-based, fuelled by a surge in risk appetite following the announcement of a U.S.–Iran peace framework over the weekend. Energy, financials, and materials all participated, though energy stocks gained somewhat less than the others as crude oil prices simultaneously fell sharply on the Strait of Hormuz reopening news — a rare case where the same headline pushed the index up and one ...

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Stalemate Deepens as Government Shutdown Hits Historic Length

House Speaker Mike Johnson, joined at left by Rep. Andrew Garbarino, answers questions at a news conference at the Capitol on day 16 of the government shutdown. 

The federal government shutdown has now stretched into its 20th day, officially becoming the third-longest in U.S. history. With no breakthrough in sight, the standoff between Democrats and Republicans continues to paralyze Washington.

The Senate is scheduled to vote yet again on a funding measure, marking the 11th attempt to end the impasse. However, both sides remain entrenched: Republicans are pushing for a stopgap bill to extend funding at current levels, while Democrats insist on restoring cuts to Medicaid and securing health care subsidies before reopening the government.

The shutdown, which began on October 1, has already furloughed hundreds of thousands of federal workers and disrupted key services. If it continues past October 22, it will surpass the 1995-1996 standoff to become the second-longest in U.S. history, trailing only the 35-day shutdown of 2018-2019.

While some lawmakers express cautious optimism that a deal could be reached this week, others warn that the political deadlock may drag on, especially with President Trump preparing for an overseas trip later this month. For now, the question of when the government will reopen remains unanswered.


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